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45
Consolidated Balance Sheet
3M Company and Subsidiaries
At December 31
(Dollars in millions, except per share amount)
2010
2009
Assets
Current assets
Cash and cash equivalents .........................................................................................
$
3,377
$
3,040
Marketable securities — current .................................................................................
1,101
744
Accounts receivable — net of allowances of $98 and $109 .......................................
3,615
3,250
Inventories ...................................................................................................................
Finished goods ........................................................................................................
1,476
1,255
Work in process ......................................................................................................
950
815
Raw materials and supplies ....................................................................................
729
569
Total inventories ..........................................................................................................
3,155
2,639
Other current assets ...................................................................................................
967
1,122
Total current assets .................................................................................................
12,215
10,795
Marketable securities — non-current ..........................................................................
540
825
Investments .................................................................................................................
146
103
Property, plant and equipment ....................................................................................
20,253
19,440
Less: Accumulated depreciation .................................................................................
(12,974
)
(12,440
)
Property, plant and equipment — net .........................................................................
7,279
7,000
Goodwill ......................................................................................................................
6,820
5,832
Intangible assets — net ..............................................................................................
1,820
1,342
Prepaid pension benefits ............................................................................................
74
78
Other assets ................................................................................................................
1,262
1,275
Total assets .............................................................................................................
$
30,156
$
27,250
Liabilities
Current liabilities
Short-term borrowings and current portion of long-term debt .....................................
$
1,269
$
613
Accounts payable ........................................................................................................
1,662
1,453
Accrued payroll ...........................................................................................................
778
680
Accrued income taxes .................................................................................................
358
252
Other current liabilities ................................................................................................
2,022
1,899
Total current liabilities .............................................................................................
6,089
4,897
Long-term debt ...............................................................................................................
4,183
5,097
Pension and postretirement benefits ..............................................................................
2,013
2,227
Other liabilities ................................................................................................................
1,854
1,727
Total liabilities ..........................................................................................................
$
14,139
$
13,948
Commitments and contingencies (Note 14)
Equity
3M Company shareholders’ equity:
Common stock, par value $.01 per share ...................................................................
$
9
$
9
Shares outstanding — 2010: 711,977,608
Shares outstanding — 2009: 710,599,119
Additional paid-in capital .............................................................................................
3,468
3,153
Retained earnings .......................................................................................................
25,995
23,753
Treasury stock ............................................................................................................
(10,266
)
(10,397
)
Accumulated other comprehensive income (loss) ......................................................
(3,543
)
(3,754
)
Total 3M Company shareholders’ equity .................................................................
15,663
12,764
Noncontrolling interest ....................................................................................................
354
538
Total equity ..............................................................................................................
$
16,017
$
13,302
Total liabilities and equity ........................................................................................
$
30,156
$
27,250
The accompanying Notes to Consolidated Financial Statements are an integral part of this statement.